Why Indians Waste Money on Apartments — Smart Alternatives
Team MyKamra
Uncle said “EMI builds asset.” But did he tell you about 20-year maintenance, zero liquidity and 3 % appreciation? Stop the leak, choose smarter.
1. Under-Construction Trap
Builder promises 2027 possession; actually delivers 2030. You pay both rent + EMI = ₹80 k/month. Buy only ready-to-move flats.
2. Super-Built-Up Joke
Carpet area 800 sqft, builder says 1 250 sqft. You pay ₹60 lac for 450 sqft of air. Always ask carpet area cost per sqft – compare apples to apples.
3. Parking & Club Loot
₹5 lac for open parking + ₹2 lac club membership you’ll use twice. Negotiate – or rent in society that includes both free.
4. White-Goods Mark-Up
Builder offers “modular kitchen & split AC” for ₹8 lac. Market price ₹3 lac. Say no, buy later, save ₹5 lac cash.
5. Interest Outgo
₹50 lac loan @8.7 % for 20 yrs = ₹54 lac interest. Total ₹1.04 cr. Same flat rent = ₹14 k/month = ₹33 lac in 20 yrs. Difference ₹71 lac – you could buy two flats later.
Smart Alternatives
Rent premium society, invest surplus in index funds, buy plot in tier-2 for capital gain, or co-live in co-working coliving spaces and network your way up.
Still craving ownership? Use Affordability Calculator – see if EMI leaves you with at least 20 % surplus for life.
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About Team MyKamra
Team MyKamra builds calculators that show actual cost of owning – not just glossy brochures.
